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Macroeconomic Policy after the Conservative Era

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  • Epstein,Gerald A.
  • Gintis,Herbert M.

Abstract

A conservative approach to economic growth has dominated policy circles for close to two decades. This approach holds that the key to restoring economic growth lies in reducing the size and role of government in the market economy through deregulation of the financial sector, privatization, and lower taxes. The contributors to this 1995 book argue that the principles of 'trickle down' economics are of dubious validity, and have led to economic stagnation, high unemployment, and increasing inequality. They develop a fresh perspective on macroeconomic policy, one affirming that egalitarian and democratic economic structures are not only compatible with economic revival, but in fact offers sustainable growth of living standards. Their alternative recognizes that markets have an important role to play, but only within the framework of macroeconomic stability, corrections of market failures, and egalitarian rules of the game.

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Bibliographic Info

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This book is provided by Cambridge University Press in its series Cambridge Books with number 9780521462907 and published in 1995.

Order: http://www.cambridge.org/uk/catalogue/catalogue.asp?isbn=9780521462907
Handle: RePEc:cup:cbooks:9780521462907

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Web page: http://www.cambridge.org

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Cited by:
  1. John Smithin, 2002. "The Rate of Interest, Economic Growth, and Inflation: An Alternative Theoretical Perspective," Working Papers geewp23, Vienna University of Economics Research Group: Growth and Employment in Europe: Sustainability and Competitiveness.
  2. H. Sonmez Atesoglu & John Smithin, 2006. "Real wages, productivity and economic growth in the G7, 1960-2002," Review of Political Economy, Taylor & Francis Journals, vol. 18(2), pages 223-233.
  3. Engelbert Stockhammer, 2007. "Funktionale Einkommensverteilung und aggregierte Nachfrage im Euro-Raum," Wirtschaft und Gesellschaft - WuG, Kammer für Arbeiter und Angestellte für Wien, Abteilung Wirtschaftswissenschaft und Statistik, vol. 33(2), pages 175-198.
  4. Fernando Augusto M. de Mattos, 2000. "Jornada de trabalho: o exemplo europeu [Hours of work: the European example]," Nova Economia, Economics Department, Universidade Federal de Minas Gerais (Brazil), vol. 10(2), pages 117-143, December.

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